Roger Ver, known as 'Bitcoin Jesus', is charged with criminal tax fraud, allegedly evading near $50 million in taxes.

The U.S. Department of Justice claims Ver committed mail fraud, tax evasion, and filed false returns, avoiding payment of at least $48 million in taxes.

Ver, who renounced his US citizenship in 2014 for citizenship in St. Kitts and Nevis, reportedly did not report ownership of 131,000 Bitcoins at the time.

The unreported Bitcoins are estimated to be worth approximately $7.5 billion today.

Ver was arrested in Spain and the US is seeking his extradition amid heightened enforcement of cryptocurrency-related crimes.

The crypto industry is facing increased scrutiny, with recent prison sentences for Binance's founder and FTX's former CEO for financial crimes.

Billionaire investor Mike Novogratz commented on Ver's arrest, acknowledging his early contributions to the crypto industry and expressing hope for a quick resolution.